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Will bank stocks increase within 3 months following the blocked $8 late fee cap?
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Resolution / Starting Odds
Increase in bank stocks • 50%
No increase in bank stocks • 50%
Stock market data and financial reports
Story
Trump-Appointed Texas Judge Blocks $8 Credit Card Late Fee Cap
May 11, 2024, 02:50 AM
A federal judge in Texas, appointed by former President Trump, has temporarily blocked the implementation of a new rule by the Consumer Financial Protection Bureau (CFPB) that aimed to cap credit card late fees at $8. This decision comes after significant opposition from the banking industry, which argued that the CFPB exceeded its authority with this rule. The rule, which was set to take effect next week, was anticipated to significantly reduce the late fee revenue for banks and credit card issuers, potentially saving consumers $10 billion annually.
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Yes, bank stocks rise • 50%
No, bank stocks do not rise • 50%
Increase • 50%
Do not increase • 50%
Rule remains blocked • 50%
Rule enforced • 50%
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Significant Positive Impact • 25%
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Stock prices increase • 33%
Stock prices decrease • 33%
No significant change • 34%
Significant decrease in late fee revenues • 33%
Minor decrease in late fee revenues • 33%
No significant change in revenues • 33%
No significant change • 33%
Positive impact • 33%
Negative impact • 33%
Yes, reduction is finalized • 50%
No, reduction is not finalized • 50%
Increase less than 10% • 50%
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